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FOX News
Jan 7, 2013 3:00am PST
live right on television after you're done. >> you gave steve part of our studio platform? >>steve: no. you will have to tune in. stay tuned. >> i think i'm going to be here for the three hours. >>steve: you will have to stay tuned to find out what exactly was involved. it did involve this pocket hose right here. >>brian: he's supposed to be on the camera, and he goes to get a pocket hose right in the middle of a segment. what are you? an extra? what are you? an august sillry? -- an auxiliary? >> this is getting more intriguing by the minute. i can hardly wait to hear about that hose. >>steve: it was something that happened on friday that went hardly awry. >> was this at the end of the show? >>steve: no. >> when i was on the treadmill, i was watching part of the show, but i missed this whole hose episode. then all of a sudden you guys froze at 8:40. maybe it was a direct tv satellite thing. you froze for the next 20 minutes. >>brian: it was chilly outside. >> we've got to get to headlines. it's shaping up to be a big week for white house staff announcements. president obama will no
CNBC
Jan 9, 2013 7:00pm EST
. we'll have howard dean and steve forbes debate the issue. >>> and in cooperstown, new york, rampant steroid use has resulted in this, no one will be inducted into the baseball hall of fame this year, no bonds, no clemens, no one. we have the latest on this major league dis. >>> it's not a fiscal emergency, it's about the flu and it's not going to be the only city. >>> and finally, this trillion dollar platinum coin idea to solve the debt. not only stupid, it'll make the u.s. look like a banana republic. can we please avoid that, at least? the "kudlow report" begins right now. >>> another big day on the gun control front. a key statement from vice president biden on the issue. eamon javers joins us with the details. good evening, eamon. >> the white house suggests it could use an executive order to move gun control legislation reform forward here in washington, d.c. and also today, the vice president met at the white house with gun control advocates, some of whom shared their personal and emotional stories. >> my name is annette nance and my 16-year-old son blair holt was killed in c
CNBC
Jan 10, 2013 1:00pm EST
. be sure to pick up a copy of skeef w steve weiss's new novel. >> go gm long. >> i knew that. >> titan. buy it. >> more at 5:00 tonight. follow me on twitter. and "power lunch" begins right now. >> "halftime" is over. >> "power lunch" and the second half of the trading day starts right now. >> an unhedged hour of "power lunch." an hour filled with breaking news. in 30 minutes time we expect president obama to name jacob lew to replace timothy geithner. it the white house really getting serious on gun control? under way right now, vice president biden, at the chair's seat. we should have answered very soon. and new rules on mortgages. being announced today. we will highlight changes and explain how they could affect you. >>> first though, sue at the new york stock exchange. sue? >> ty, as you mentioned, president obama will announce jack lew as his nominee for secretary of treasurer. he staffers believe it will be approved. analyst say the president's pick is a sign he will move forward with planned economic reforms and do so aggressively. mr. lew served as coo of nyu and worked at citigroup
CNBC
Jan 8, 2013 3:00pm EST
'll get much more on the markets coming up, but first steve liesman with breaking news right now. this is the latest read on the u.s. economy. steve, what can you tell us? >> maria, thanks very much. the federal reserve reporting consumer credit for november, consumers in a borrowing mood with consumer credit rising 7%. non-revolving credit, auto, student loans, up by 9.6% with a big rise in student loans. the federal part of this thing was up pretty strongly, and non-revolving credit was up 1.1%. student loans up by $5 billion to a record $521 billion, and outstanding bank credit card was up by 6 billion as well so banks were not shy about alleged on the credit cards. meanwhile, jeff lacquer, fed president saying growth at 2 it is is what is expected for 2013 but 2014 could be stronger with reduced risk and ending some of the financial uncertainties that have -- that he says hobbled growth in 2012. he repeated his opposition to current fed policy and warned that a big fed balance sheet means that the economy is vulnerable to even small mistakes. maria? >> all right. steve, thank
CNBC
Jan 11, 2013 3:00pm EST
are a low-cost iphone for emerging markets. shanghai evening news claimed the apple marketing chief steve shiller says the future for apple isn't cheap phones. apple hasn't responded to my request to clarify what shiller said and frankly i don't trust language that's been translated and retranslated. the future of apple isn't cheap ipads but that doesn't stop them from coming out with ipad minis. you can bet they have worked on a phone that would meet their standards and avoid cannibalizing the high-end iphones. if they release one, that's a bigger story. >> apple stock, a buy or a sell? the stock hovering around $500 a share. still well below its all-time high, so is it a buy or not? on the technical side of the story ennis tanner with me with riskreversal.com and on the tech fundamental side, jeff, we'll start with you. >> growth rates in china, it's huge, but i think there's a bigger story here in apple, and we can talk the numbers to death, but there's a transition going on. over the last six years apple has been this hyper growth company with an investor base that included everybody,
MSNBC
Jan 7, 2013 2:00pm PST
nebraska senator bob kerrey and the atlantic's steve clemens. senator, it's always an honor to speak with you. the president today said chuck hagel is an american patriot when he announced the nomination of the former senator from your state to head the pentagon. let's take a listen. >> chuck hagel is the leader that our troops deserve. he is an american patriot. he enlisted in the army and volunteered for vietnam. to this day he bears the scars and shrapnel for battles he fought in our game. we see a decorated combat veteran of character and strength. they see one of their own. most importantly, chuck knows war is not an abstraction. he understands that sending young americans to fight and bleed in the dirt and mud, that's something we only do when it's absolutely necessary. >> well, senator hagel paid tribute to the men and women in uniform at the announcement today. let's listen to the nominee himself. >> mr. president, i am grateful for this opportunity to serve our country again, and especially its men and women in unifortunatentunately -- unform their families. these are people
CNBC
Jan 8, 2013 4:00pm EST
joins us and steve liesman, our senior economics reporter. you worried, what are you thinking here? >> you know the problem is we're already starting to see the consequences and specifically we saw that in the quarters leading up to the fiscal cliff discussion, and really this is just another reminder, another round reminding the american people and the world just how much of an imbalance this u.s. u.s. economy has become with out-of-control government spending and removing any incentive for businesses to invest in the u.s. economy. these are different conversations. when we talk about the government shutdown as a result of breaching the cliff, this is on obligations already made, dollars already spent. the conversation that we need to have or include here is reining in future spending which is what the republicans are trying to do at this point. >> what do you think, steve? have we already seen damage to the economy with all this uncertainty and questions surrounding the debt ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the econ
CNBC
Jan 9, 2013 12:00pm EST
. >> steve, where are we going from here? >> first of all, in terms of alcoa, doesn't mean anything. >> the tone matters! the tone doesn't matter? if they lay an egg, doesn't matter? >> like my grandmother said, have a little soup. can't hurt. that's the only thing that matters. take a look at the stocks not working today, some of the steel stocks, some coal stocks, you would think they would be up on alcoa. >> if they said, look, china is worse than we thought. >> right. >> not actually getting better like all of you think it is. >> go back to what they said in the past. they have gotten it wrong basically more times than right. it doesn't hurt but it doesn't really help all that much. if you take a look, the stocks are trading sympathy with it. why wouldn't mt be up and u.s. steel be up. >> steve -- >> dow up 78 points and up across the board. >> that's why it's up. >> higher but alcoa's ceo, the comments, i think shed some light. i think -- >> he was more downbeat than been in terms of tone. >> yes. to scott's point, look at what he said about china. things are picking up there.
CNBC
Jan 9, 2013 3:00pm EST
as the main player? >> steve liesman and rick santelli tell us what they think it all means. steve, you first. you recently did, as you know that great interview with tim geithner right here on the "closing bell." how well do you know lew? >> not as well. he was at omb for a brief time, a couple years in this administration, his second go-round there. look, we're learning more about him, and i don't think there's very much mystery here. he would be picked for the job because he's a budget expert, and that also he's a loyalist inside the obama administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you
CNBC
Jan 9, 2013 4:00pm EST
fed treasury and others presented their points. robert steve miller said the board fulfilled its fiduciary duty and the board reject it had entirely meaning it won't pursue the claims on its own or allowing greenberg international to pursue the claims in aidentifying's name. the ceo from 1967 until 2005, greenberg's long criticized the government's handling of aig during the financial crisis. his term filed the suit on behalf of other aig shareholders, the suit claiming, among other things, the firm's investors weren't properly compensated for the 80% stake the company took as collateral for the rescue packaged back in 2008. calls for clarification on the decision were not delivered. back to you. >> joining me right now in an exclusive interview, ceo benmosche. thanks for joining us. >> thank you, maria. >> very important time for the company and shareholders are out there watching this. first off i've got to say reading the court of public opinion, lots of headlines. now we've got a lawsuit against the government. the government bailed out this company. why did you even look at
FOX Business
Jan 10, 2013 12:00am EST
to do. tim cook didn't come with the training. steve jobs was the brand marketing expert at apple. tim cook is logistics guy. we look at tim, how did he heck did he get to be ceo of anything let alone the most powerful company in tech? i think nature here, apple is looking across at samsung, competing hard with samsung and starting to adopt sam sung's policies and practices and samsung is a broadband, more of a value brand and segment. melissa: looking right now, the market share, what we've seen and it has just been a huge jump. in 2011, samsung's market share was 22% to apple's 13. if you look what happened in 2012, samsung has jumped all the way to 31%, a huge jump. another 10%. meanwhile apple just ticked up two points, to 15. seems like samsung is really eating their lunch and apple should go back to what has worked for them, instead of trying to do this other thing, right? maybe they can't? maybe they're out of ideas? their trademark was amazing innovation. is that gone with steve jobs? >> well, what steve wozniak beliefs, when steve jobs passed a lot of people that created innov
MSNBC
Jan 8, 2013 9:00pm PST
steve schmidt. he is a republican senior strategist from the mccain/palin ticket in '08, msnbc analyst. steve, thank you for being here. good to see you. >> good to see you, rachel. happy new year. >> you too. i know you are a supporter of gun rights, steve. i know you are also a political realist. how do you assess the strength of the effort to try to come up with some form of reform agenda after newtown and after tucson? >> look, i think that the ad that you showed is obviously enormously compelling. it's emotional. the whole country was traumatized by this unspeakable tragedy that took place in newtown, and the tragedies that took place before it. and sadly, the tragedies that are going to take place next. and we don't know where those will be. but the nra is a fearsome political lobby. members particularly in the republican party are terrified of being primaried. this issue is often covered through a partisan prism when it should be looked at through a regional prism. if you talk about democrats in the south, in the mountain west, and places like north dakota, and you saw the new s
FOX Business
Jan 9, 2013 9:20am EST
will not be cutting spending. we'll have steve moore for you, he got the interview and the opening bell coming up next. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity the protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious
CNBC
Jan 10, 2013 6:00am EST
. >> there we go. >> i don't think -- >> pimco -- >> you know i'm thinking of steve jobs and -- >> i know. >> it's -- >> i'm going to do it with my ipad, too. anyway when we come back. an interesting -- interest rate decision from the bank of england is just a few minutes away. plus president obama set to nominate jack lou as treasury today. roger altman will join us on set as our guest host for the next hour. "squawk" will be right back. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> talking treasury. who is america's new top money man? the nomination of jack lew and what this means for the markets. reaction from former deputy treasury secretary roger altman. >>> stocks in focus. the most important themes for investors. get the names before trading begins, with jason trennert. >> and the herbalife war of words. >> herbalife is a pyramid scheme. >> now another activ
CNBC
Jan 7, 2013 12:00pm EST
-year highs headline r really is a risk, what role will the nation's central bank play? steve liesman is here with that story. steve, it's good to have you back. you know wab if the minute unveiled anything last week besides the fact that they spooked the market momentarily, they showed that there's seems to be a battle inside the fed. how real is it? >> what's interesting, scott, is there's not one, but really two battles. the first battle is that there's differing opinions at the federal reserve over the improvement in unemployment rates. some guys had one metric and women are included here, too, as well. for when the -- we'll hit that 7% -- >> with all due respect to janet yellen. >> absolutely. what you're looking at here is the count where everybody is in their forecast 2013. you can see a pretty solid majority, 16 of the 19 are at 7.4% or higher. to be sure, the fed had this wrong in the last year. they're almost a full percentage point long at the end of 2011 when it came to 20 is 12. the other fight is the one that's more interesting. the minutes know several members of the federal re
CNBC
Jan 7, 2013 3:00pm EST
us along with brian is peter anderson of congress asset management and our own steve leisman and rick santelli. you think it's going to be another good year of gains. target on the s&p 1575. defend it. >> well, we do. i'll remind everyone we were at 1420 last year. we base all of our analysis on fundamentals. >> you were off by a point. >> i'm sorry. >> a whole point. >> seriously. >> i'm sorry. but we think the fundamental condition of u.s. stocks remains very strong. if you take a look at the balance sheet strength, earning stability. fourth quarter earnings i think was a surprise to the upside. companies have been conservative of all these great things. no that we're done with this fiscal cliff situation, i think we do have a bit of wind behind our sails. however, we don't think that 2013 will be as strong as 2012 given the fact that so many people were underexposed stocks in 2012. we've had this kind of natural rotation back in. i think 2013 will be positive. >> but are we really done is the question. we've got the debt ceiling debt bait coming. peter, what's your take? >> well, i
FOX Business
Jan 12, 2013 6:00pm EST
wall street journal"'s steve moore. steve, a disturbing series of events, to put it mildly. >> no question about it, neil. and, look, we have a three-branch system of government in washington. the president is the chief of the executive branch, that means the president doesn't make the laws, he executes the laws that congress passes. and, you know, i'm in austin, texas, today. here in texas everybody's been talking about this. what is with all these executive orders? what gives the president the authority to do this? and the one that, you know, i'm most interested in, obviously, is whether the president will try to unilaterally raise the debt ceiling without approval of congress. and that is the scuttlebutt right now in washington, that the president is simply going to do it whether congress authorizes that extension or not. neil: you know, sabrina, it's odd that this is occurring the same week we saw the movie "lincoln" honored with 12 oscar nods. of course, a lot of people point to the fact that abraham lincoln, you know, habeas corpus went way after and way beyond what c
MSNBC
Jan 9, 2013 6:00pm PST
like this before. which one is it? joining us now is steve karnaky, host of "the cycle." steve, it's good to see you. empty threats? or are we in uncharted obstruction territory? >> i don't think it's uncharted yet. i'm curious to see how it plays out. i think in terms of the republicans unifying in opposition, it's more likely in the case of hagel than lew, but we'll see how that plays out. i don't pick up yet in either case on the threat of what could kill either of these nominations that would be a filibuster there is a sense in hagel, even if he had all the republicans, all 45 of them say they are against him, there will be still be up or down. so maybe 55-45, maybe one democrat will peel off. the longer term threat here is this. what we've already experienced in the last four years is that the republicans in some very sort of troubling ways have changed the behavior enormous for congressional parties. you look at how they have treated the debt ceiling. they tried to claim that as a legitimate bargaining tool. you look what the senate republicans have down with the filibuster,
CNBC
Jan 7, 2013 1:00pm EST
plan. steve liesman is here on what you are hearing. how concerned are they? >> there is concern and it takes two forms, sue. two separate fault lines that developed over the fed. you are -- well, that the easy one. the economy meeting what we call the substantial improvement in labor market quicker than others do. they are worried about substantial group in the balance sheet and adjusting it once they stave off inflation. here is what they said about three different folks with the fed. another group a few others say we need considerable policy. that is qe. but they frnt telling us how long it gez on for. this other group called several others that say it is appropriate to slow or stop purchases well before the end of 2013. they site concerns about financial stability or the size of the balance sheet. here is what i understood to be some of those concerns. big balance sheet obviously could lead to inflation. they could be at a loss or make payments to the bank. as interest rates go up, principal gez down. payment to banks would come from interest on reserve in order to sequester
CNBC
Jan 9, 2013 1:00pm EST
be confirmed pretty easily. even though he has tough questioning at confirmation. >> let's bring in steve liesman. he is low drama, low confrontation. he doesn't have wall street regulatory. who is lew? >> i think the first theng i will do is begin the series of puns beginning with jack lew's name. let me say more about jack lew, we call this one, you don't know jack. >> of course you do. >> this is a financial education. beginning with harvard and georgetown. but that never disqualified anybody. tip o'neill 93 and '94, special to president clinton. and that's what john harwood was talking about. incredible expertise with the budget. moving on in 2006, new york university as executive advice president. then a stint at citigroup. first at global wealth management and next in a controversy by the way that comes up with a large bonus he got while citigroup was getting tart money. finally reenter the administration. i'm sure the administration will make a cot of, as secretary in charge of of resource management. and second stint of omb. then white house chief of staff to the present. let's lo
CNBC
Jan 11, 2013 9:00am EST
could that impact the man who is now nominated to succeed tim geithner? steve, good morning. >> thanks, carl. first of all, just to what you were talking about earlier, we understand geithner's going to hang out until january 25th in the treasury, giving jack lew to confirm and i guess perfect his signature. let's see what we've learned, what does he leave for jack lew. he got the stress test done. actually, that's not correct there. let's move away from that. what we're talking about here is the -- let me go to my notes. the stimulus was done -- but sustained growth was not. frank dod basel iii was not done. aig also done. what is the geithner model? what is the geithner doctrine? i think you can say like this, overwhelming government force when it's clear it's needed. b in a crisis, spend, regulate and guarantee and do it with conviction. let's talk about one of the things left over from the geithner years, which is going to be the issue of debt and deficit. i think you would say there was some accomplishment when it came to getting some of these deals in place. but ultimately, he pr
CNBC
Jan 8, 2013 6:00am EST
of virgin atlantic. he's going to assume that job as of february 1st. current ceo steve ridgeway is retiring after 11 years on the job. >> let's welcome our two guest hosts who will be with us for the next two hours. first up we have senator ron johnson who is a member of the commerce and budget committees. also john allison, former bb&t ceo, also president of cato. welcome to the both of you. we have a lot to discuss with you. first we want to get to some of the things we're going to be talking about over the next two hours. guys, we have you here because we have some serious issues. things that are facing our nation and i know you both have some very serious thoughts about them. >> true. >> senator, you brought some cups that i think lay out some of your concerns. >> listen, what i like to talk about, obviously, is how do you start decreasing the level of uncertainty, bring certainly back to this economy, you know, restore confidence so we can get our economy growing again which is the primary, that's the best way to solving our fiscal situation. i think the other problem we've got to solv
NBC
Jan 13, 2013 8:00am PST
with iran. steve hayes in the weekly standard wrote nothing something in his blog this week, which i will put on the screen. >> chuck hagel said nothing as far off the table but one that believe us in the prospects for negotiation. we have been ready to negotiate under the right set of circumstances with iran for the last several years with our friends and allies so, force is the table but i'm glad we have people like the president and like chuck hagel who will be very careful when you start throwing around the terms -- >> he says it's not feasible. do you agree it is not feasible. >> what is the not feasible? >> military option? >>> military option is always feasible, you tell me what the option is. are we going to blow up tehran or go after facilities that might be well pro-toerktd hidden? and i think bob gates, the previous secretary of defense, who pointed out the difficulty of striking these places is a real one. so any military option is feasible in terms of dropping bombs but what is the result of that military attack? with respect to the revolutionary guard, he has reasons fo
MSNBC
Jan 10, 2013 2:00pm PST
to use a term another way. steve king introduced a bill in 2011 to clarify in his words the 14th amendment. the amendment grants citizenship to anyone born -- it was written after the civil war for african-americans obviously. well, king argued tfers not meant to including babies of illegal immigrants. take a look. >> anchor babies are babies that are born in the united states to an illegal mother and the practice over the years has been to grant automatic citizenship to babies born on u.s. soil. they sneak into the united states many of them for the purposes of having the baby, they get the little birth certificate with their little feet prints on there, and then they stay here or go back to their home country and wait until that child comes of age and then that child, they use that child to apply to bring in the family, the nuclear family, then the extended family. and it's out of control. >> you might expect something like that from the man who questioned whether barack obama's mom might have sent his birth announcement by telegram from kenya. king is at it again with anchor b
CNBC
Jan 10, 2013 9:00am EST
geithner. steve liesman joins us now. he has a look at exactly what lew will be left with once mr. geithner leaves town. >> no easier job now. treasury sect job was a tough job to begin with and today's circumstances, this post financial crisis world, a tougher job yet. let's go through some of the things that we know and some things we don't know. the debt ceiling and more among the jobs here, negotiate a debt ceiling and sequester deal with congress, or if you don't do that figure out thousand run the government without debt. an interesting job. also on that agenda, fixing long term entitlements. as well as the broader thing which geithner has been working on, but hasn't really pulled the trigger on, corporate and individual tax reform. let's broaden it out because there's a local other area especially in the wake of the financial crisis. the global finance job. who is the treasury secretary? he's the guy you need to stand up during the next meltdown. second thing, dodd-frank remains out there, unfinished regulations. basil 3. fannie mae and freddie mac as well as more on too big to fail.
CNBC
Jan 9, 2013 9:00am EST
we have found a way it be able to run automobiles with water, that was the hope of steve jobs. they run on water and we've got that in q2. i'm taking numbers down. that's where we are right now, the mind-set of apple is so horrible, that i feel like taking a big bag of macintoshs and smashing them. >> if this story had come out a year ago, it would have been seen as leading a way in the emerging market play. this is exactly what they needed to do. >> 40 billion more apps, china taking over the world, nokia destroyed. now it's like, a new phone, you know, wow. >> the context is a different context this year than a year ago. you look at the third-quarter share loss. 14.6% down from 23% a year ago. you look at samsung's growth, and samsung at 31% of worldwide shipments, from 8.8%. so we're seeing these two sort of cross paths here with samsung on the upswing, samsung yesterday reporting a record year, and apple on the down side. >> how long is tim cook going to subsidize its biggest enemy, samsung, and not go to taiwan semiconductors? do something about this south korean invasion
CNBC
Jan 11, 2013 6:00am EST
. >> that's a really good depression. so it's good, but i don't know what it means. >>> coming up, why steve cohen's sap capital could be bracing from the big hour of squawk. you can't afford to miss this next deal in congress. it's going hit your take home pay line by line. it's more money than you might have thought coming up at 7:00 eastern time. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> welcome back to "squawk box" this morning. u.s. equities at this hour, we have red arrows. dow off about 11 points this morning. the nasdaq off 1.5 points. s&p 500 marginally off about a point this morning. sap capital telling business employees and parter ners it's bracing for employee withdraw. the journal says this is amid intense regulatory scrutiny of alleged insider trading at sac. worth noting,
CNBC
Jan 7, 2013 9:00am EST
. therefore, the outlook for qe is steve liesman. who we should note, of course, was hobnobbing with a lot of economists last week. >> simon, thanks. what i've been able to figure out is there are actually two separate fault lines that have developed over at the fed over how much quantitative easing to do this year. the first one is the easy one. some officials seeing the economy meeting the labor market before others. and look at this chart of the fed unemployment rate forecast for 2013. it shows those divisions really not that extreme. pretty solid majority. 16 of 19 members. they see the unemployment remain above 7.4% this year. that's probably enough to just fight qe for the full year. the more complicated split is among those who are worried about growth in the balance sheet and the fallout from trying to adjust it once the economy picks up. let's take a look at what the minutes said. a few members of the fed are in favor of asset purchases to the end of 2013. a few others, they would like to see considerable policy accommodation, but no specific time frame or total on the amount. it'
CNBC
Jan 8, 2013 12:00pm EST
closely watched sectors when wells fargo reports fourth quarter earnings on friday. steve grasso, director of institutional sales joining us. grasso, it's good to be in your house today. >> nice to have you guys in. >> financials have ripped. last year. and they've started out the year pretty well. what are you looking for? >> wells fargo kicks it off. if you look at it on a price range, it's really cut in between here. 34 is your support, resistance 36 1/2ish. for me i'd rather wait and see approach here. they're looking to get into more private wealth asset management. if that's the case, why not go with a frc or first republic, stay with a goldman sachs. >> let me get your take on alcoa. pete said you might as well flush the earnings report down the toilet, that it means nothing. those were his exact word. >> exact words! >> is he right? >> i agree. not only did alcoa get rid of smelting plants but pete had two that he wasn't using at all. if you look at alcoa, since around may 1st, they've been playing around with the same $2. it looks like an $8, $10 swing. you can make money but it's
CNBC
Jan 10, 2013 12:00pm EST
and they said there's no way in hell can you do that. >> when steve came and laid out the case in for-profit education, that -- >> that was one of the most -- >> there were people on the other side of that. not like this but there were people on the other side of that. >> let's talk about taking sides. as traders you're going to have to make a decision whether you're on the side of ackman or on the side of loeb if you're even willing to dabble in this one. >> i'm not willing to dabble in this. how does the ceo not know what their outside network exposure is. i heard the whole thing. it doesn't make sense to me. if the ceo can't give me answers, i'm not interested. >> he's claims is a -- >> they gave some presentation that they know certain things. they compare themselves to costco. i had a heated dispute with michael johnson about this, it was really good thing. it was respectfully heated i might add. when they bring up costco and they say costcosells to a customer and that small business doesn't know who they sell to and there's a big difference. costco is not regulated through the m
CNBC
Jan 11, 2013 12:00pm EST
right. if you've been watching the show, you've heard steve making big bets on macy's. let's take a listen. >> they've got momentum. stocks have been frozen time between 37 and 40. i think we'll see it break out at this point, very attractive at about 11 times earnings. i think this is one you have to own. you can put it away. i stuck with it. sales for the season. i think this is one of the highest quality retailers out there. i would still buy it. >> macy's is down 9% since that call. what's the problem with macy's? you love it so much, what's going on with the stock? >> i loved it at ten times, 11 times, i'm really, really loving it now. and less than ten times. falling all over this thing. >> is there a problem? >> perception is the problem. they came out, reported sales for last month. they were much better than the street had been looking for. it is sort after buzz el to me but we've seen retail, the whole space, flows come out of the space. i think that will reverse. so i still like it. i stick with it and i will probably buy more. >> anybody like macy's as well? somebody w
CNN
Jan 9, 2013 4:00pm PST
've now waited sech times longer than the victims of katrina waited for federal aid. >> above felix. steve sweeney, a democrat, blasted christie recently saying -- i guess he prayed a lot and got lucky a storm came. i know you apologized for that comment, but do you stand by your sentiment that the governor has been using the storm for his own gain? >> not for political gain, but to hide his record in new jersey. he said i'm going to wipe the slate clean now because of the storm. before the storm hit, we had 9.6% unemployment. we had the second highest foreclosure rate in the nation behind florida. our poverty rate has increased 3%. you don't get to wipe the slate clean, governor and quite honestly, if this is your jobs package, it's not a good jobs package. the governor wants to paint a different state than what's going on. >> one thing i have to ask you about this is post crisis bumps happen. as distasteful as it may be, they do happen. it happened to rudy giuliani after 9/11 and president bush. to president obama after superstorm sandy, too. maybe the reality of it is good leaders shine
CNN
Jan 9, 2013 9:00pm PST
. but it is entirely possible that the house of representatives will approve a bill by representative steve stockman to do away with the gun-free school zones. >> and you would be happy with that? >> you are a good guesser yes, sir. >> where are they going to put them? >> well, when people carry a concealed firearm one doesn't know for sure and the element of surprise remains with the person concealed. which means that somebody thinking of doing something horrible doesn't know which person or persons might be able to arrest him. to stop him, and that is why our jurisdictions that have easy access to concealed carry firearms enjoy lower murder rates than say the gun control mecca of chicago, which does better than one murder a day. >> you are a very experienced man in your field. you have run your operation for a long time and people take you you are a leading member in the gun rights lobby. i'm going to give you one more chance before we finish to say how many gun murders you believed were in england in 2011. >> more important than the number of murders, and it doesn't matter how a murder is committ
CNN
Jan 10, 2013 1:00pm PST
. hold on. and then the story i read on the front page of the wall street journal, steve, it did make the arrangement that he did run the two divisions, one of which got into serious trouble in 2007, 2008. he wasn't the guy making the investment decisions that really caused such severe heartburn. i red read that in the wall street journal today. >> well, he was in charge of the operation and it lost money. whether he was making specific calls on investments, don't know. but you don't look at that reference and say, gee, this really makes him qualified to be the treasury secretary for the united states. >> all right. let's let ali weigh in. >> steve, good to see you. i'm not sure anyone who would nominate for treasury secretary that the editorial of the wall street editorial would but who knows. your history is one of a tax fighter. you've been a tax fighter forever. you're founder of the club for growth. >> right. >> you've got the same dna as grover norquist and pat toomey and guys like this. jack lew understands budgets. the fact of the matter is, this is a guy that can speak the ri
FOX Business
Jan 8, 2013 3:00pm EST
with the iphone really happen. for years you worked with steve jobs and company to really encompass that at at&t. what did you learn from that experience you believe will make you more successful with digital life? >> anytime you have a phenomenal partner like apple has been to us you have to learn from that partner. what we have learned is we have to go out and be innovative all the time. we have to look at how we create customer expense that has been flawless and simple for a customer and that was the goal here, how to make of this seems complex, wearing your whole house, allowing you to control these things. our goal was to make it simple. when people see what they can do and see how easy it is to set up and use, they will be blown away by it. liz: you can unlock the door from your desk at home. thank you very much. glenn lurie of at&t. when we come back, first on fox business interview, huge in automotive audio and so much more. plus, tim baxter, first on fox business, wait until you see it, the 84-inch ultra high-definition tv. don't even ask. we will be right back from the consumer elect
CBS
Jan 13, 2013 6:00am PST
." steve hartman shows us snow flakes that comfort and heel. faith salie struggles to create the perfect computer password and more. but first here are the headlines for this sunday morning the 13th of january 2013. today is the first anniversary of the giant cruise ship cost a concordia going aground off the rocks off tuscany. there was a mass and moments of silence for the 32 people who died. contractors trying to free the capsized ship said they need more time and more money to complete the job safely. france has raised its domestic terrorism alert level after taking military action in two african nations. french forces are backing soldiers trying to repel islamist offensive in mali. and in somalia french commandos tried but failed to rescue an intelligent agent held hostage for three years now. bicyclist lance armstrong sits down for an interview with oprah winfrey tomorrow. there are reports that he's ready to admit to charges of doping which he denied up to now and that he will apologize. eugene patterson the pulitzer prize winning former editor of the atlantic constitution died la
CNBC
Jan 7, 2013 6:00am EST
economics reporter steve liesman who joins us a little background. you going to give us a little drama, a little -- >> yeah, there seem to be at least two separate fault lines, andrew, at the fed over how much quantitative easing to do this year. the first one is the easy one. that's over the economic outlook. some officials see the economy meeting that test of substantial improvement in the labor market earlier than others do. that's the easy one. the more complicated split is among those who may or may not see the economy improving, but they're worried about growth in the balance sheet. i want to give you, from the minutes, the divisions at the fed. a few members of the fed say asset purchases are warranted until the end of 2013. a few others, we need considerable policy accommodation but give no specific time frame or total. they're probably the ones who are more oriented towards substantial improvement in the labor market. it's this last group that seems to be the new group. others, several others, they say it's appropriate to slow or to stop purchases well before the end of 2013,
CNBC
Jan 7, 2013 4:00pm EST
as former boss steve jobs. we don't now how the holiday turned out for jcpenney. one person we spoke to is very happy with how his merchandise performed at jcpenney. >> we had a stellar performance in izod at jcpenney during the holiday season. great sell throughs. we beat our plans particularly for the month of december. so we really feel very good about how that has all come together, how izod has performed at jcpenney. we love the way they look, the way the brand is presented. and the margins have been outstanding. >> no shares of online only amazon hitting record highs. in tandem today with the heavy conference connecting with the consumer on multiple screens and platforms. a number expected to release their holiday sales numbers this week. many of which invested heavily in their online department. retail investment bank president collin welch told me today he thinks many of these retailers are better off acquiring technology companies and companies that already have this expertise than building them from the ground up. >> thanks very much. >>> earning season kicks off tomorrow.
CNBC
Jan 9, 2013 6:00am EST
the jobless rate to 6 1/2%, a report from steve leaiesman whe we return. about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ >>> welcome back to "squawk box" this morning. in the headlines, amr shareholders might be getting earnings. it might be unusual but its stock has improved since filing for bankruptcy in 2011. the possibility of that was mentioned to the justice department. >>> a number of redesign ed mercedes models should drive sales. the u.s. has become more important now that demands from china has receded. >>> finally, apple's tim cook on his second visit to china in a year and ramped up speculation apple is renewing efforts to strike a partnership with apple mobile, the country's largest carrier and apple declined to comment whether they would be meeting
FOX
Jan 13, 2013 4:00pm PST
put in, one by representative steve stockman, outside of how often that would remove the gun-free zones that have been so much like a magnet to invite mass murderers into zones where they know nobody else will be able to shoot back. and, that, i think, is where the debate is likely to shift. are we really better off when we say no defense is a good defense? >> chris: i want to put up an ad gun control advocates have start running, against democratic senator -- new senator heidi hidecamp of north dakota after she said some of the president's ideas about gun control are extreme. mr. pratt, you see the ad there. will it work? can ms. camden and her allies, and they've suggested they can drive a wedge between people like you and the heads of the nra, and some of their members may not be as hard-line as you guys are on gun controls? >> well, i think the senator from north dakota is reflecting the views of the people that sent her to washington. so i don't think there is much room to drive any wedge, i think she is representing them faithfully and it is noteworthy that a democrat w
CNBC
Jan 7, 2013 4:00am EST
for the first half of the program today, steve carroll. good morning to you. we can see investors like this. what are the ramifications as far as you're concerned? >> well, first of all, thank you for having me on the show. i think we should be -- as we've seen, the markets are going to see the point of view of the banks themselves. as one of the constraints on the ability of banks to extend credit and support the economy is relaxed. i think everything is equal. that should support the economy and the growth outlook going into 2013 and 2014. having said that, we don't see this as being the biggest issue and certainly in continental europe and perhaps particularly in the periphery where the growth outlook has been most negative over the last few months and quarters, it probably hasn't been the biggest constraint. so we don't really see it as a game changer either in credit creation or in growth or the prospects. >> it's been suggested we should ripped up basel and start again. do you have any comments on that? >> andy's conversation is one that resinates with those of us who work in the fina
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